Global Petroleum Share Discussion Threads

[jimarilo] 20/9/2018 07:24

To hit pay with your first well in a frontier region is a pretty hopeful expectation. The well was delayed re-spud and massively over budget. The deeper targets were not intersected, as this would have incurred a further $40m, which cash strapped TRP could not afford

The well will have provided much needed data, for remodelling and the BoD obviously see something very worth while, particularly the deeper targets;, which is where Gemsbok is deemed to be, which its self is a potential major oil field

The industry still believe in PEL10 and Namibia which has still only had around 15 wells drilled

TRP are currently involved in an application to renew the blocks left inside PEL10, which is further validation.

Peter Taylor is a director in both companies, has 4% of TRP and 20% GBP. I think he has a closer insight than both you or I

[cashandcard] 20/9/2018 02:29

Jimarilo,I had a small punt on trp at the time, their geological model was well off and the (glowing in the dark) AVO was intriguing but a throw off. No oil in those sands.One ought to avoid that CPR altogether as ww1 undid the many of the assumptions it's numbers relied on.Cash

[jimarilo] 19/9/2018 23:07

Mr Market doesn't know the potential of our new block 2011A or we would have had a serious re-rating today

The time will come, whether a re-rating will be when/if we are taken out or before that day comes and the market gets it's act together.

PEL29 has 3.66bln barrels mid case,which is huge, 2011A Delta prospect is stratospheric 9.256Bln barrels mid case (page 7)

These are the Giants they were hunting in the corporate presentation we never saw

There can be no other company on the planet with this level of prospective resources and a m/cap of £5m

Obviously Mr Market is not up to speed .....yet

[jimarilo] 19/9/2018 13:08

I guess some do not realise what block 2011A contains potentially

This will be a missed opportunity for some...ho-hum ;-)

[joestalin] 19/9/2018 10:34

Looking at yahoo.co.uk this morning - not the most reliable but a useful guide.

[jimarilo] 19/9/2018 10:27

I guess your looking at the ASX share price ?

The open question being how much ?

previously we thought around 8-10p (£20m), why not 20p ?

[joestalin] 19/9/2018 10:17

The share price has risen 10% which must take it closer to cash value. Add in a premium and who knows what the bid could be.

For the first time in many years, I am cautiously optimistic.

[jimarilo] 19/9/2018 09:10

ee it seems like they are trying to keep the lid on this

No mention of the numbers that are easily found on the TRP CPR, just like the Hunting Giants in Namibia presentation that was never put on the company website

If a deal is soon they must have already agreed a price and don't want a BPC debacle ?

[emptyend] 19/9/2018 08:50

It does appear to be an "enabling" transaction to me. It materially increases GBP's acreage position and fills in the gap on trend towards Cormorant.What it might enable, however, is an open question, IMO......

[jimarilo] 19/9/2018 08:32

The share price and everyone will do what they will

However imo, AEC and ECO will own this company in the coming days

Stellar are out of the game, we are not farming in or out anything

This is going to be a buy out, ECO will take the new block, which is next to their Cooper block PEL30 and AEC will take PEL29 as they focus on Rift Basin plays, as I have posted before

DYOR

[jimarilo] 19/9/2018 08:10

It will be reported on the oiler pages offshore energy today is my go to site I will post it normally about 10am

They won't have stock for this

[chopsy] 19/9/2018 08:00

Nice one Jim, do you think we will get any publicity?

[daar] 19/9/2018 07:59

Nice and what news that would be :)

[jimarilo] 19/9/2018 07:58

Bigger news is yet to come, possibly Monday maybe before then

[ohisay] 19/9/2018 07:54

Theyve been trying to do this for years of course.

[daar] 19/9/2018 07:47

This is big news: "Global Petroleum Limited (AIM: GBP, ASX: GBP) is pleased to announce that it has signed a Petroleum Agreement to acquire Block 2011A offshore Namibia. Global will hold an 85% interest in the new block as operator. State oil company, Namcor, and a local private company, Aloe, will have carried interests of 10% and 5% respectively.Block 2011A is located in the northern Walvis basin, immediately to the east of the Company's current licence, PEL0029, which comprises Blocks 1910B and 2010A (Figure 1). The combination of the two licences gives Global an aggregate of 11,608 square kilometres offshore northern Namibia and makes it one of the largest net acreage holders in the region. Global believes that Block 2011A contains the same plays as those detailed in the Competent Person's Report for PEL0029, which was published in January 2018, and is available on the Company's website"

[jimarilo] 19/9/2018 07:44

Has anyone under estimated the amount of shares they should be holding ? ;-)

16Bln barrels mid case

[jimarilo] 19/9/2018 00:49

Didn't see this coming, the acreage has some 3D completed already, next door to Eco's Cooper block PEL 30 and 40 clicks from Tullows C1 in PEL37

We also have a ready made CPR, courtesy of TRP

Page 6, the Delta prospects 5.68Bln barrels mid case

Delta leads showing 6.68Bln barrels mid case .....cos up to 31%

The Gamma prospect drops into this block as well



Combine both PEL 29 and 2011A we have a grand total of 15.94Bln barrels m/case

Two single prospects Gemsbok and Delta of 7.43Bln barrels m/case

Now it makes sense for both ECO and AEC to take positions as the two assets are split between GBP and GBP Namibia

Surely 8-10p is out the window.....20p minimum ?

£4.9m M/cap currently .......

[jimarilo] 19/9/2018 00:20

Our Namibian acreage just got bigger, looks like we have just taken a large slice of PEL10

[jimarilo] 18/9/2018 14:55

An additional 10% is around 20m and besides the two Peters 40%, the rest of the directors, PT's additional options and Mrs Sandra Anne David, hold around 17m

GBP final results due month end

[jimarilo] 18/9/2018 14:16

Agreed and any deal that the Peters accept will have to be a good one

In which case I am very confident the rest of us would take their arm off

Bring it on ;-))

[emptyend] 18/9/2018 13:45

I'd note that any deal will almost certainly be subject to shareholder approval at an EGM. The only way that can be avoided is for someone to buy the Peters' stakes (and another c.10%) take control and make an offer to other holders on the same terms.It is therefore a red herring to think that a pre-drill deal will be genuinely pre-emptive, IMO.

[jimarilo] 18/9/2018 10:01

Norway last week presenting at a conference, next week presenting in the town hall Stockholm

I wonder if this is before or after any corporate activity ?

President and Chief Executive Officer, Garrett Soden, will be presenting to investors and shareholders at a town hall meeting in Stockholm, Sweden on Monday, September 24, 2018, at 18:30 Central European Summer Time (CEST).



Apparently Eco's Gil could be there at the presentation in Sweden

They were all at the Norway presentation which was an institutional event, the Swedish event looks like a retail event

Totally guessing now, but is this the day they intend to announce their acquisitions ? Timing would be right re:C1